Your New Home

[Andy_Shrimp]

Was listestening to Vine on Radio 2 a few days ago. The subject was "Would You Buy a House that had been "Repo""

One guy came on and said that it was all the homeowners fault and he had no sympathy. Others had no problem. Then what seemed a majority said that it would have bad Karma.

I appreciate that mortgages have been mis-sold and that some have believed they can afford something, which in fact they can't - thats life. Also that some have exploited the market. Some just want something they can't have.

My issue is that, why would you believe in bad karma. Does that really exist? My first house was a one bedroom bungalow on Canvey (yes well we all start somewhere). My Neighbours paid 60k and I paid 40k. This was back in 92. Ok my then relationship did not work out, but did I blame the house, no!

I would buy that way again, its about a bargain surely? I do have sympathy with those who face the repo and I do believe that its not always about greed but being sold the belief or opportunity to own your own home.

But bad KARMA - give me a break. I Don't get it - life is what you make of it.Yes it can be bad and it can be good we just have to ride the storm. I Don't believe that just because you buy a house that has not worked for one cannot work for another.

Your thoughts

 

[Yorkshire Blue]

Buying a house that has been repossessed is actually helping the people who have been repossessed. By boycotting it you are just going to drive the price down and ensure that the people who owned it receive even less for it.

 

[Ron Manager]

You could argue that by pulling out of the market of these homes you are making life more difficult for people who've been reposessed.

The lender will sell the house and after legal costs etc will use the proceeds to pay off the loan and give whatever is left (if any) to the borrower. If there are lots of potential buyers then that means it is more likely a decent price is reached.

 

[Ron Manager]

Beat me to it Yorkshire Blue!

 

[Harold Bishop Killer]

Yes for reasons for above. I dont believe that bad karma will affect you living there. As said above if anything you are helping out these people who have been in financial trouble. And I too dont believe its coz of greed, just simply most of the time it because like us all we want to own a home and in todays world it near impossible. I am 24, ok currently in Aus, but once i return home and pay off my debts it will take me a few more years to even think about owning my own home. I will not go with the banks that offer like 100% mortagages at silly amounts x your salary. this is how people get in this mess. By buying in at a rate that they can afford but as soon as that interest rate clicks up jus a notch they cant afford it. Need flexability in the mortgage amount. Bit in todays market people think its the only way toget close to having a home. Which is not helped by the banks.

 

[OldBlueLady]

Depends really, if they were the type to go and strip the place of doors, light fittings, radiators etc then I'd think twice about it, on the whole though I think if a house feels right to you then go with it regardless of its history.

 

[osymandus]

No such thing as good or bad karma (silly fluffy people like saying theres good or bad electricity !!!) it dont work like that , the peoples "kama " was they bought a house action they for what ever reasons couldnt maintain payments defualted Karma (consequences of actions).

More likley the people who make a small fortune buying up repo properties and gettnig bargins dont want the general public getting involved ;)

 

[davewebbsbrain]

Was listestening to Vine on Radio 2 a few days ago. The subject was "Would You Buy a House that had been "Repo""

One guy came on and said that it was all the homeowners fault and he had no sympathy. Others had no problem. Then what seemed a majority said that it would have bad Karma.

I appreciate that mortgages have been mis-sold and that some have believed they can afford something, which in fact they can't - thats life. Also that some have exploited the market. Some just want something they can't have.

My issue is that, why would you believe in bad karma. Does that really exist? My first house was a one bedroom bungalow on Canvey (yes well we all start somewhere). My Neighbours paid 60k and I paid 40k. This was back in 92. Ok my then relationship did not work out, but did I blame the house, no!

I would buy that way again, its about a bargain surely? I do have sympathy with those who face the repo and I do believe that its not always about greed but being sold the belief or opportunity to own your own home.

But bad KARMA - give me a break. I Don't get it - life is what you make of it.Yes it can be bad and it can be good we just have to ride the storm. I Don't believe that just because you buy a house that has not worked for one cannot work for another.

Your thoughts

My Name Is Earl...Watch it, it will explain all about Karma!!

 

[Andy_Shrimp]

Depends really, if they were the type to go and strip the place of doors, light fittings, radiators etc then I'd think twice about it, on the whole though I think if a house feels right to you then go with it regardless of its history.

Why though, I wouldn't care what it looks like inside as you would want to put your own mark on the place surely? If you are buying a house then the inside can be changed. I personally would want location and price to be right. The rest i could change.

Take your point on if it feels right, then you go for it - subject to price!

 

[OldBlueLady]

Why though, I wouldn't care what it looks like inside as you would want to put your own mark on the place surely? If you are buying a house then the inside can be changed. I personally would want location and price to be right. The rest i could change.

Take your point on if it feels right, then you go for it - subject to price!

Because if they were that sort, then you'd feel less inclined to be "helping them out"? Dunno, just know that was something I was once told by someone in the estate agents business last time we were in this kind of situation.